Rubber is a raw material used in many industries and products. Its flexibility and strong elasticity make it popular in the manufacturing of a diversity of products. Rubber is an inexpensive material that can protect against deterioration in several ways. Rubber prices are published daily by many sources including MarketWatch CNNMoneysense and QuotesChimp. Each source provides detailed statistics about the materials pricing from across Canada and the US.
Rubber is a commodity. As such, the trend in its price is going to follow that of other commodities. It’s important to stay up to date on its price because the cost of your products will increase if the cost of rubber goes up. So, today I’m going to show you how to use an API (Application Programming Interface) to access real-time data on the price of rubber and how that data can be used in Python.
Rubber is used for innumerable applications. From automobiles to roofing, rubber fulfills basic and vital needs. That is why it is important to stay up to date on its prices at all times. Luckily, this article will instruct you on how to use an API to get rubber rates from Python.
If you’re thinking of investing in anything like this, you should be aware of how important it is to keep up with market prices. This might be the impetus for your investments to change course. If you don’t keep an eye on the commodity and how it performs in the market, you can wind up with poor outcomes and lose money.
Check out Commodities-API, a programmatic interface that obtains data from a place and presents it to the person who made the API request if you’re interested in knowing more about the rubber industry and its daily pricing. This is a common feature on many websites, and it makes finding fresh material a lot easier.
These APIs employ a variety of programming languages, but our top pick is Python.
What distinguishes Python from the rest of the programming languages?
Python is a general-purpose programming language with a high level of abstraction. It is widely used in web and software development, as well as task automation, data analysis, and data visualization. Its design makes extensive use of indentation, making the code easier to comprehend. Its features and object-oriented approach are aimed at assisting programmers in writing clean, logical code for both small and big projects.
Commodities-API
To access an API, you must use software that permits you to perform API calls. Commodities-API is a free public API that displays commodity pricing for a wide range of items, such as coffee, rice, sugar, and wheat. Commodities-API supports over 170 currencies and provides data with a 2 decimal point precision.
It may update once every 10 minutes or once every 60 seconds. It also gives historical information, allowing you to reflect on past occurrences and formulate future goals.
Commodities-API provides midpoint data for all commodities and currency rates. The midpoint rate is calculated using the average median rate of Bid and Ask for a certain time period. Currency and commodity prices are converted using the same API endpoints by Commodities-API, which allows you to convert any amount between currencies, any commodity between commodities, and any currency between currencies.
Is this information trustworthy?
Absolutely! This application obtains data from banks and the stock market via an API, making it extremely trustworthy. The data is then presented with two decimal places of precision and is adaptable to JSON, PHP, and Python. Commodities-API uses bank-grade 256-bit SSL security to safeguard your connection.
How does it work?
So, if you’re looking for Rubber Updated Rates, you’ll need to take the following steps:
1- Sign in to www.commodities-API.com to obtain your API key.
2- Look for Rubber and the monetary symbols that correspond to it.
3- Once you’ve found both of them, make the API call.
4- You will receive a JSON response from the program, which you may change and use as required.
Also published on Medium.